Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Footwear in Nigeria

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Executive Summary

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PROSPECTS

Footwear is growing well in Nigeria

Footwear has grown well over the review period, excluding the period of economic stagnation in 2016/beginning of 2017, and is expected to continue performing well over the forecast period as the population grows and more consumers are able to afford higher-priced brands. Strong local production of footwear unlike other categories of apparel is also helping to make footwear more affordable.

Women’s footwear is the largest category in footwear

Sales of women’s footwear in Nigeria are higher than men’s footwear as women tend to purchase shoes more frequently than men. Women also emphasise stylish shoes with espadrilles (in different styles) being quite popular in the last five years.

Children’s footwear records the fastest growth

Children’s footwear, albeit from a smaller base, outperformed both men’s and women’s footwear in 2017 and is expected to outperform both over the forecast period as well. In the past it was very common for children to not own shoes, or to wear shoes only on occasions of outing.

COMPETITIVE LANDSCAPE

Sportswear brands lead a fragmented footwear category

Sportswear brands have the leading shares in footwear in Nigeria due to the prevalence of comfortable canvas shoes and consumers’ strong familiarity with sportswear brands though their advertisements during global sporting events. adidas Group has the leading value share, followed by Nike Inc.

The chained retailers, Mr Price and Pep, are performing well

Apparel chain retailers Mr Price Apparel and Pepkor Holdings Ltd, which retail their own brands, Mr Price and Pep, have been growing their share of footwear in Nigeria since entering in 2012 after Nigeria’s import ban on apparel was lifted. Their range of affordable, good-quality brands are attractive to lower- to middle-income consumers who normally purchase second-hand or counterfeit shoes.

Fragmentation in the category expected to decline over the forecast period

With the success of Mr Price Apparel and Pepkor Holdings Ltd, it is likely that footwear specialist retail chains would be inclined to join competition over the forecast period. Retail chains providing affordable footwear would help to draw consumers who can only afford second-hand and counterfeit products.

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